MR - MortgageWatch

Australian interest rates rise to their widest gap ever with NZ

Wednesday 7th of April 2010

The move to put Australian monetary policy on more normal settings prompted the kiwi dollar to fall against its trans-Tasman counterpart.

Stevens lifted his benchmark interest rate to 4.25%, saying it is “appropriate for interest rates to be closer to average” as inflation and economic growth move back to more normal trends.

The kiwi dollar dropped to 76.25 Australian cents from 7...

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